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"It's All A Lie" - Eric Sprott Slams Massive Monetary Metals Manipulation

Tyler Durden's picture




 

Submitted by Mac Slavo via SHTFPlan.com,

If the government’s official statistics are to be believed the U.S. economy is moving full steam ahead. Consumer are spending, the job market is expanding, real estate has recovered, stocks are soaring and the U.S. dollar is stronger than it has been in a decade.

But if you have yet to realize it, it’s all a lie. So says billionaire investor Eric Sprott of Sprott Global, which manages hundreds of millions of dollars in contrarian investment funds for clients all over the world. Well known for his long-term bullishness on the resource sector, specifically precious metals, Sprott joined First Mining Finance chairman Keith Neumeyer in a must-see interview where the pair discuss everything from the state of the global economy and trade to gold market manipulation and the inevitable breakdown of highly leveraged paper trading exchanges.

Neumeyer recently sent a very public letter to the Commodity Futures Trading Commission highlighting rampant price suppression, noting that neither real producers or real consumers are being represented by the manipulative practices of a small concentration of players. Echoing those concerns Sprott suggests that for every 5 tons of real gold there are some 1500 tons worth of claims. The inevitable outcome should claimants ever want to take delivery of physical inventory will be an unprecedented explosion in price:

To be brutally honest, I mean, that’s what I dream of… I think we’re almost at that point where we might very well have a shortage of gold and silver by a product of this last raid here, so much so that we’ll take those 5 tons from the COMEX because we have lots of people buying silver and gold.

The manipulation of precious metals, coupled with the supply and demand fundamentals which Sprott says will lead to shortages over the next few years as mining companies reduce output or close up shop, will leave many investors who think their gold holdings are easily convertible to physical assets with nothing more than depreciating Yellen Bucks at exactly the moment they’ll need precious metals in their possession.

Everything says to me that the demand for gold is in excess of the supply. And, of course, you wonder why the price would go down, but people look at the COMEX which stays manipulated, which is so obvious to me what’s going on. We have 5 tons of physical gold. We have something like 1500 tons of claims against that 5 tons. So to be quite direct about your question, yes, I kind of wonder any day, is somebody going to snatch those 5 tons of gold, and we end up with some kind of cash settlement. But then you have to think, if we would have a cash settlement, having taken gold from 1900 down to 1100, all under the threat of a rate increase for the last 5 years, which has never happened and may not ever happen, and then all of a sudden they’re like “well, really there is no gold here, we’ll just cash settle it at $1,100.” Meanwhile, we’ve lost $800 on a false claim. And perhaps maybe people in the know know about this, they keep the price of precious metals suppressed because they are the canary in the coal mines.

 A canary in the coal mine, indeed:

There’s no way we should have a strong dollar here. We haven’t even begun to deal with the issues that are facing the U.S. public, i.e., Social Security, Medicare, everything so far is a lie.

 

I mean, I can’t believe inflation’s 2% when pretty well every individual in the U.S. just on their healthcare policy, just on that policy alone, their cost went up 2% a year. On everything. Just on healthcare, because it’s probably 20% in healthcare, you get a 10% increase, that’s a 2% increase. So whether or not anything else goes up, there’s a 2% increase. And they don’t throw in grants and education and all those other things that are going up. Inflation numbers are massively understated, everything’s a lie.

 

I don’t believe the jobs report from last Friday, the ADP number, it’s all a lie. And I sort of ask why do they have to lie about everything? Well, you know why they have to lie about everything… Because we don’t have an economic recovery happening, and they’ve got to pretend there is one. And so when you get these funny numbers that come out that suggest we have strength when deep down you know there’s no strength. Look at the truckloads, the rail car load increase, the cost of chartering a ship, the Baltic rate, they’re all going to new lows here.

Knowing full well that we’re dealing with a lie so big that its eventual consequence will lead to bewilderment and widespread panic among the general global public once it becomes common knowledge, one should be asking: what do I do now?

Keith Neumeyer, whose company has been rapidly acquiring distressed assets in the precious metals mining space, provides an insightful and actionable answer given what we know about what’s coming:

As Eric said, the valuations now are quite laughable. As well as many people know, I’ve been in this market for a while. I’m not sure if Eric has seen these valuations before but in my 32 years of being in it, I don’t recall ever being able to buy a drilled ounce of gold in the ground for less than $10 an ounce.

 

 

Not one of these transactions could have occurred in a normal market — the costs would have been just much, much higher and just unaffordable.

 

And then on a personal note, as I’ve said a couple of times to some good friends, I’ve just recently sold my last piece real estate and I’m putting all that money into this sector. I’m going all-in, I think this is “back up the truck” time, this is a once-in-a-decade opportunity, and I’m putting my money where my mouth is.

Though the market price has yet to reflect it, Eric Sprott and Keith Neumeyer are being joined by scores of billionaires and investment funds that are positioning themselves in the gold and silver markets.

They know what’s coming. Unfortunately for the majority of the populace, it’ll be too late by the time they realize it too.

 

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Sun, 11/22/2015 - 21:12 | 6825997 Soul Glow
Soul Glow's picture

Gold is money, nothing else is.

Sun, 11/22/2015 - 21:19 | 6826018 Anopheles
Anopheles's picture

Beliefs and faith are money, nothing else is. 

Sun, 11/22/2015 - 21:22 | 6826027 Soul Glow
Soul Glow's picture

That is not money, that is religion.

Sun, 11/22/2015 - 21:38 | 6826080 HenryHall
HenryHall's picture

Religion is money. At least it's money so long as money changers are allowed in the temples.

Sun, 11/22/2015 - 21:47 | 6826106 Boris Alatovkrap
Boris Alatovkrap's picture

In other is news, government is announce increase in chocolate ration from 5g per day to 20g per week. Citizenry is celibrate in town square. Sorry you are miss celibration.

Sun, 11/22/2015 - 22:04 | 6826148 JustObserving
JustObserving's picture

Talking about grams, India's gold scheme is an epic failure:

Modi's Gold Scheme Has Only Drawn 400 Grams Out Of Potential 20,000 Tonnes

http://www.huffingtonpost.in/2015/11/20/gold_0_n_8608276.html

That's 400 grams out of 20,000,000,000 grams

Sun, 11/22/2015 - 22:35 | 6826174 J S Bach
J S Bach's picture

Although one might say that Sprott has a vested interest in his end of this topic, there is no doubt that what he has to say is the truth.  C'mon, people.  Who can't see the obvious before our eyes?  What is required of those who know is a mature patience.  The inevitable outcome of all of this unnatural manipulation of the metals (and many other markets) will be the whiplash to true market prices.  It will swing wildly above the norm when the action finally occurs and this is when the prudent buyer/seller will exchange their commodity for any needed asset or liability (land, food, mortgage payment, etc...).  Patience is the most difficult virtue to wrangle in this decadent time that we dwell in.

Mon, 11/23/2015 - 00:39 | 6826439 beemasters
beemasters's picture

I'm trying to make sense of it all. If there truly is a physical shortage, Sprott and his billionaire friends could just get into paper gold and DEMAND physical delivery of all there is left from Comex, can't they? Take them to court, if they have to. Theoretically that should stop the manipulation, if it indeed exists. We have been hearing cries of physical shortages for ages now. It's time people like Sprott do something to prove it.

Mon, 11/23/2015 - 01:26 | 6826500 Squid-puppets a...
Squid-puppets a-go-go's picture

yes, and finally someone important is echoing what ive been trying to clamour for a month now: at these prices it only takes a spare $170 million between you and yer oligarchic buddies to demand delivery of that last 5 tonnes, and while that'll be settled in cash, any phyz holdings prior to this clean sweep purchase will then skyrocket/ Lets call it $200 million in case they pull a spare tonne from their arzzs

what are they waiting for? they have an opportunity to sit on a chair and stop the music.... why hasnt it been grabbed?

Mon, 11/23/2015 - 08:36 | 6826870 kralizec
kralizec's picture

Why?

Fear.

The right question is: Why be affraid?

Mon, 11/23/2015 - 02:16 | 6826566 Tall Tom
Tall Tom's picture

When you purchase a Future Contract then you have NO LEGAL ARGUMENT WHATSOEVER when COMEX fails to deliver Physical Gold.

 

You agreed to accept a Cash Settlement in lieu of Physical Gold at the discretion of the COMEX. 

 

That is YOUR CONTRACTUAL AGREEMENT WITH THE PURCHASE OF THE CONTRACT.

 

Ever take the time to READ the Terms and Conditions of the Contract?

 

Or do you, like most Americans, just sign contracts without ever bothering to read them as you believe that the issuers are honest and not above fucking you over?

 

No court would even bother hearing your case and it would be summarily dismissed with YOU being held liable for LEGAL COSTS for filing the frivolous lawsuit in the first place.

 

These guys are not multimilionaires because they are stupid.

Mon, 11/23/2015 - 03:50 | 6826642 beemasters
beemasters's picture

"You agreed to accept a Cash Settlement in lieu of Physical Gold at the discretion of the COMEX.

That is YOUR CONTRACTUAL AGREEMENT WITH THE PURCHASE OF THE CONTRACT."

So in a nutshell, in today's world, nobody can do anything? So these multimillionaires are either stupid or taking everyone else as born-yesterday's, selling them an EMPTY HOPE for something that will be suppressed forever????? Damnit, Sprott.

Mon, 11/23/2015 - 03:58 | 6826657 Tall Tom
Tall Tom's picture

Actually you can use this to your advantage if you are clever.

 

You can actually get Gold for free....like Sprott does.

 

I exposed the strategy in a detailed post below, as a response to Philo Beddoe.

 

http://www.zerohedge.com/news/2015-11-22/its-all-lie-eric-sprott-slams-m...

 

Just because you have not been clever enough to figure it out does not mean that the multimillionaires lack cleverness.

 

It means that YOU lacked the cleverness.

Mon, 11/23/2015 - 04:19 | 6826680 Fiat Envy
Fiat Envy's picture

What do you imagine would happen to the terrorist that would dare do such a thing.

Mon, 11/23/2015 - 06:36 | 6826749 TradingTroll
TradingTroll's picture

Very astute. Sprott could sue Comex  yet doesn't.  And investors  should trust him?

Mon, 11/23/2015 - 08:11 | 6826833 Anopheles
Anopheles's picture

No, he can't "demand" delivery.   Contracts clearly state that they have the option to settle in cash. 

Sun, 11/22/2015 - 22:16 | 6826180 TeamDepends
TeamDepends's picture

Ouch, and the paper pain continues. Gold below the 1170 resistance and silver under 14 but briefly. Hard to wrap the mind around it but paper price must go to zero.

Sun, 11/22/2015 - 22:22 | 6826202 Philo Beddoe
Philo Beddoe's picture

Ugly. Yes. Oil...that is where to watch for the real fireworks display.  A nice fucking drive into the low 30s will stir up some nasty shit. 

Mon, 11/23/2015 - 01:27 | 6826504 Squid-puppets a...
Squid-puppets a-go-go's picture

yer - we wont just get the margin calls, we'll get the Trustee's calls

Mon, 11/23/2015 - 02:22 | 6826578 Tall Tom
Tall Tom's picture

Most likely my call for WTI in the $20s will not be realized in November as I postulated here on ZH but it will head there.

 

They can delay the outcome for a little while. That is why putting time frames on the calls is somewhat foolish on my part.

 

But WTI will see $30 before it sees $100

Mon, 11/23/2015 - 08:38 | 6826873 kralizec
kralizec's picture

TD is right.  Paper prices, all of them, have to hit zero.

Not there yet...

Mon, 11/23/2015 - 08:09 | 6826827 TruthHunter
TruthHunter's picture

That is not money, that is religion.

Exactly

Doubtless the FED is the temple of Mammon.

It kind of looks like a temple.

I remember a millionaire who said he never failed to pick up a penny out of respect

That wasn't an economic act. It was an act of worship. He even bowed down!

Sun, 11/22/2015 - 21:24 | 6826032 HedgeAccordingly
HedgeAccordingly's picture

They are not incorrect, the question is what triggers to rush to claim physical? And when.

Sun, 11/22/2015 - 21:31 | 6826060 Philo Beddoe
Philo Beddoe's picture

When enough people want to preserve wealth and have next to no trust in financial institutions and governments.  It has not happened yet...so....could be awhile. 

Sun, 11/22/2015 - 21:49 | 6826116 Boris Alatovkrap
Boris Alatovkrap's picture

Little people is already very panic, wonder where is next meal, where is find employ, how are to pay mortgage and service debt. Soon, people who are think smarter than little people is become fearful of security of investment in soft asset (paper instrument) and all money in Bank-o-Sphere™ is chase hard asset. There will be blood in street.

... but what is Boris know!?

Sun, 11/22/2015 - 23:27 | 6826322 Drachma
Drachma's picture

Boris is know old Russian proverb, "Hard work make you into hunchback, then rich." Speaking of, how is health for mother-in-law? At copper spot, is must make many back-breaking trip for concentrate production. Boodeem Zdarovye!

Mon, 11/23/2015 - 00:36 | 6826450 beemasters
beemasters's picture

I dunno...when some of the billionaires like Sprott buy them all that's left of "physical shortage"? This would have been the easiest thing to do to start breaking the manipulation, but I sense something amiss about the constant cries/fear of shortage.

Mon, 11/23/2015 - 01:31 | 6826506 HamFistedIdiot
HamFistedIdiot's picture

Either the Rothschilds have discovered an alchemical process that turns lead into gold, or their Central Banks have been subsidizing the sale of gold at below cost to select miners, using propaganda and paper price manipulation to hammer sentiment. Whoever has gold stored by a third party better make damned sure it is there and not loaned out. A tidal wave of fraud is coming our way.

Sun, 11/22/2015 - 22:48 | 6826250 Demdere
Demdere's picture

The day the world does not loan the US government $ is the day the dollar starts its death spiral.  The Fed will then need to create electronic $ to cover rollover of the debt. If you think through the ramifications of that, lots of ways to make $, right?  Real safe ways, when the worlds' markets are collapsing, companies are declaring bankruptsy at historically-high rates, prices are rising by the day and food delivery to cities are not reliable because the banks don't work.  Then FEMA helps.

https://thinkpatriot.wordpress.com/2015/11/14/in-reality-everything-is-c...

https://thinkpatriot.wordpress.com/2015/11/11/dynamics-of-national-colla...

Sun, 11/22/2015 - 21:15 | 6826002 Four chan
Four chan's picture

sprott

ackerman

zh

gartman 

 

who's been more wrong longer?

Sun, 11/22/2015 - 21:18 | 6826013 Soul Glow
Soul Glow's picture

Zero Hedge doesn't give trading advice.

Hence the name Zero Hedge.

Sun, 11/22/2015 - 21:51 | 6826122 Bay of Pigs
Bay of Pigs's picture

And how is Sprott wrong on his comments above? Especially when putting all his money on the line.

The critics always attack the messenger, and avoid real arguments.

Mon, 11/23/2015 - 00:51 | 6826465 beemasters
beemasters's picture

"We have 5 tons of physical gold. We have something like 1500 tons of claims against that 5 tons. So to be quite direct about your question, yes, I kind of wonder any day, is somebody going to snatch those 5 tons of gold, "

Would that person/persons be you and friends, Sprott? 5 Tons is less than $160 millions at today's price. Surely that's not a lot of money for many billionaires out there who claim to notice the Achilles heel? Demand physical delivery instead of cash settlement. That should teach Comex a lesson....right? And profit from your investment multiple times over?

Not doing anything when you easily can is suggesting your statement is all wrong, Sprott.

Mon, 11/23/2015 - 01:39 | 6826518 HamFistedIdiot
HamFistedIdiot's picture

He'd be nail gunned. Like Putin, these guys all have their roles to play. Geoengineering is a military operation that requires global cooperation. All these petty financial and territorial disputes are theater for the plebes. When "they" stop spraying the skies and revoke the charters of reckless corporations, I'll become optimistic.

Mon, 11/23/2015 - 02:27 | 6826584 Tall Tom
Tall Tom's picture

COMEX has the option of Cash Settlement...AT THEIR DISCRETION.

 

The buyer of the contract has no say.

Sun, 11/22/2015 - 21:45 | 6826101 bonin006
bonin006's picture

Since Gartman changes his mind every day, would you say he has only been wrong for a day, or that he has been wrong forever?

Sun, 11/22/2015 - 21:16 | 6826008 DocBarter
DocBarter's picture

They said this over and over.

Sun, 11/22/2015 - 21:18 | 6826010 SIOP
SIOP's picture

Anyone remember Andrew Maquire?

Sun, 11/22/2015 - 21:20 | 6826019 Soul Glow
Soul Glow's picture

His name was Turd Ferguson.

Sun, 11/22/2015 - 21:27 | 6826049 Four chan
Four chan's picture

dixon yarmouth.

Sun, 11/22/2015 - 21:30 | 6826059 Soul Glow
Soul Glow's picture

His name was Turd Dixon Yarmouth Fergison.

Sun, 11/22/2015 - 22:26 | 6826206 DirkDiggler11
DirkDiggler11's picture

Hey, what happened to ANDREW Maquire ??? Did Andrew and Eric King get married ? Did they both EXPLODE HIGHER ???

Sun, 11/22/2015 - 21:18 | 6826011 Anopheles
Anopheles's picture

Sprot is just blaming a "conspiracy" because he made BAD CHOICES.  

He's still a looser, he believed his own delusions rather than reality, and took all his followers down with him.  I had a discussion about this 2 years ago with a couple of people, (Sprot groupies), and they called me every name in the book and continued worshipping their messiah.   

I was right, and they lost everything.   

 

Sun, 11/22/2015 - 21:20 | 6826020 Philo Beddoe
Philo Beddoe's picture

What is this reality you speak of? 

Sun, 11/22/2015 - 21:21 | 6826023 Soul Glow
Soul Glow's picture

Please explain how they lost everything?

I still have every ounce of gold and silver I have ever bought.

Sun, 11/22/2015 - 21:23 | 6826030 Philo Beddoe
Philo Beddoe's picture

I am wishing I would have bought more at $300. 

Sun, 11/22/2015 - 21:28 | 6826052 Four chan
Four chan's picture

same here for the record, stacking since 1985, no regerts.

Mon, 11/23/2015 - 00:03 | 6826395 TradingTroll
TradingTroll's picture

Oh right. That's  why  you're  busy posting on a blog about low gold prices.

Mon, 11/23/2015 - 02:38 | 6826591 Tall Tom
Tall Tom's picture

That is why we can AFFORD to take the time posting on a blog about low Gold Prices.

 

In fact I CELEBRATE lower GoldPrices sothat I can accumulate more of it at cheaper prices.

 

It is nice to be retired...and rich.

 

Who is paying your bills?

 

How comfortable is Mommy's basement?

 

Or are you a professional troll...a sockpuppet being employed and paid, unknowingly, by the likes of me?

 

I want to buy up everything on the cheap...including Gold.

 

Deflation is my friend. (I know that the Governments and borrowers hate it as they are struggling to pay with less income and with more powerful Dollars.)

 

I only want high prices when I sell it. Understand?

 

Keep on working...But you have to do better than that. Maybe I ought to fire my crew.

 

Mon, 11/23/2015 - 06:32 | 6826748 TradingTroll
TradingTroll's picture

You only want high prices  when you sell? Funny, you sound like most commodity  producer tgat doesn't  hedge. There is ZERO  guarantee  of 'high prices' when you sell.Long only is a bitch.

 

 

Sun, 11/22/2015 - 21:28 | 6826054 Bill of Rights
Bill of Rights's picture

Sure you did, you cant even spell his name correctly asshole...

Sun, 11/22/2015 - 22:10 | 6826169 Anopheles
Anopheles's picture

Your attack means you're one of the loosers I'm talking about.   It's called deflection.   

Sun, 11/22/2015 - 22:21 | 6826192 Bill of Rights
Bill of Rights's picture

That wasn't an attack, just calling out the obvious... fuck'en dope.

Sun, 11/22/2015 - 22:32 | 6826221 Bay of Pigs
Bay of Pigs's picture

Bill, he's like the old gold trolls we used to have here, William the Bastard, Math Man and GoldenMiddleFinger come to mind.

Mon, 11/23/2015 - 02:29 | 6826588 Dame Ednas Possum
Dame Ednas Possum's picture

His illiteracy is a good indication of his primative state.

A veritable imbecile without a shadow of a doubt.

Mon, 11/23/2015 - 02:47 | 6826602 Tall Tom
Tall Tom's picture

He calls himself a mosquito. Just a little parasitical pest.

 

That is all that he is.

 

Just smack him.

 

(It is actually how I look at demons...pestilence. Just little pests to be eradicated when they become a nuisance.)

 

Now where did I put my bug spray? I need my bug spray.

Sun, 11/22/2015 - 22:33 | 6826222 petolo
petolo's picture

Hey anopholes. You may not be a looser but you sure as hell are a loser.

Sun, 11/22/2015 - 21:47 | 6826104 TradingTroll
TradingTroll's picture
  •  
      • You're  100% right. A bunch if down votes from the gold bugs who bo
      ught the top though. Memo to downvoters: just because  you  read  ZH doesn't mean  you don't  trade like a loser
Sun, 11/22/2015 - 21:49 | 6826117 Philo Beddoe
Philo Beddoe's picture

You assume quite a bit cock breath. 

Sun, 11/22/2015 - 22:28 | 6826214 TradingTroll
TradingTroll's picture

That's wafting in from Sprott meeting with Rick. It's really strong isn't it? Carton of Febr3ze doesn't  help. What do you use for the smell after you sessions with Eric?

Sun, 11/22/2015 - 22:32 | 6826220 TradingTroll
TradingTroll's picture

Hey downvoters! I hear begging through Gofundme is a good way to recoup losses on underwater positions. 

Mon, 11/23/2015 - 00:00 | 6826392 TradingTroll
TradingTroll's picture

Ok. Deal. Downvoters win. I  will  go ahead and short one futures contract tomorrow  morning  for each downvote and I pinky promise to cover under $1000.Just make sure you post the Gofundme  link so I know who to tip!

 

Mon, 11/23/2015 - 02:51 | 6826605 Tall Tom
Tall Tom's picture

Please do.

 

Really. I need Gold to go sub $1000.

 

I will also short paper and pick up Physical with the profits so it costs me nothing.

 

Please. Short the hell out of it.

 

I will be happy to supply you with downarrow clicks if you will actually spend the money.

Mon, 11/23/2015 - 08:07 | 6826824 Anopheles
Anopheles's picture

In the short term, I believe gold will only bounce down a little, after a announcement that interest rates are rising a touch.  But then it will recover when traders realize that the interest rated really doesn't change much.   The other alternative is that there isn't an interest hike, and again, gold will recover.

However the long term (part year to years) is still down.  There will be rallies to 1200, but short lived.  Might not even get that high, sentiment is way down.  

Gold trades on sentiment, not charts, not moving averages, not logic.   It was that same sentiment, plus free QE money (not just the US, but EU, Japan, and other countries) that pushed it up to $1900, but QE is gone and sentiment is dropping consistently.

Gold is a luxury bought with disposable income or surplus funds.   Like all luxuries, they are worth pennies on the dollar when SHTF. 

Sun, 11/22/2015 - 21:50 | 6826120 seek
seek's picture

You could have bought AU at its peak on September 5th, 2011, at $1869.90 and today you'd be down 43% -- meaning you'd still have 57% value.

That's hardly everything.

And Just FYI, The USD's CPI-adjusted value has declined 43% since 1991. Gold purchased in 1991 has a CPI-adjusted cost of $670, and today's price is about $1070. While a 2% ARR isn't that impressive, that's with the end price in a heavily manipulated market in the middle of a depressionary episode, and more importantly, is a gain, not a loss.

It's easy to paint a negative picture about gold when you price against all-time highs and claim it's respentative of all time frames, but that is far, far from the actual case.

 

Sun, 11/22/2015 - 22:04 | 6826158 Bay of Pigs
Bay of Pigs's picture

PM trolls hate real facts like that and will never counter your bulletproof argument, becasue they can't.

Sun, 11/22/2015 - 22:16 | 6826181 Anopheles
Anopheles's picture

You're hilarious.   The usage of "everything" isn't literal, it's just an expression.  But since it goes against your religion of the glitter, you and the rest of the religious bugs,  including Sprott, take it personally, and blame everyone except themselves. 

Joke's on you. 

Sun, 11/22/2015 - 22:37 | 6826234 Bay of Pigs
Bay of Pigs's picture

See? He doesnt even come close to countering your argument.

Just more bullshit from a shit flinging monkey.

Sun, 11/22/2015 - 23:47 | 6826373 seek
seek's picture

"Just more bullshit from a shit flinging monkey."

His cumulative votes just for this weekend are +23 / -77. I think troll is probably closer than monkey at this point.

Mon, 11/23/2015 - 04:07 | 6826615 Tall Tom
Tall Tom's picture

The Latin Name for the Mosquito is Anopheles ssp.

 

They are quite different creatures from shit slinging monkeys as they are just a pest, a nuisance to be eradicated. 

 

Git yerself some of that thar Bug Spray and be done with it. Fuckin' mosquitoes. And I thought that they'd disappear with the colder weather. Shit. There are always some stragglers.

 

Hell...You'd need git yerself a Brandon Smith, ZH style, SHITGUMTM to rid yourself of them shit slinging monkey varmits.

 

Now those ain't nuisances...but can cause big problems. Git yerself a SHITGUM today.

Mon, 11/23/2015 - 07:38 | 6826789 Anopheles
Anopheles's picture

You evidently gave Sprott a thumbs up.  Even though his advice has proven to be WRONG.  

That's the sign of true believers.  It's irrelevant what their messiah does, he's always right, even when he's clearly wrong.  

Sun, 11/22/2015 - 23:35 | 6826343 Fukushima Fricassee
Fukushima Fricassee's picture

If you hold federal reserve notes instead of PM the Joke will not only be on you it most certainly will tempt you to jump.

Sun, 11/22/2015 - 22:24 | 6826207 TradingTroll
TradingTroll's picture

Well choose the Gordon  Brown  low then because the Dow still outperforms.Yes, blasphemy  here on ZH, but putting the whiners aside how many others here will join me in shorting gold  down to the $900.  Because  I  am starting to question  the  tenacity  of some ZHers right now. Markets are for trading. Is ZH a therapy site for gold bugs who only play long?

 

 

Sun, 11/22/2015 - 22:28 | 6826213 Philo Beddoe
Philo Beddoe's picture

Owning physical is a long game only, idiot. 

Mon, 11/23/2015 - 03:33 | 6826626 Tall Tom
Tall Tom's picture

THERE HAS NEVER BEEN A BETTER OPPORTUNITY TO GET FREE GOLD.

 

Short paper...It is going to ZERO after all.

 

Buy up Physical with the profits keeping your powder dry to short more paper contracts.

 

Do you see any problem with that?

 

You get your metal for nearly free....minus Capital Gain Taxes. But calculate that in...and you can garner all of the Physical that you can afford for nothing.

 

There has never been a better opportunity to get Free Gold. Read below for the mechanics of this play...

 

Let's suppose "X" is your initial capital for this play.

 

THen invest "X" into a short position. Upon Contract Expiry, when prices are generally at their lowest, then fulfill your obligation by replacing the borrowed contracts, and take delivery IN CASH, of "X" + "Y", where "Y" is the Capital Gain.

 

Reinvest X into another short position to repeat the process.

 

Take 35% of "Y", as that is the Capital Gain Tax, (taxes are only on the actual Capital Gain...not the entire investment) write a check, and mail it to the IRS. (You do not want any tax trouble.)

 

Take the remainding 65% of the Capital Gain Profit, go down to your Local Coin Store, and buy as much Buillion as you can.

 

You still have your initial Capital which has been invested once again.

You have already paid the taxes.

 

The Gold you purchased does not cost you one thin dime....other than lost interest it would have garnered in a bank. But you can subtract that out and add it to your Investment Capital to increase your Gold bounty.

 

Hey...Thanks Trading Troll for giving me this opportunity to spell out a great trading strategy for declining Gold Markets.

 

Of course if you worked for me then I'd fire you as I do not want everyone to know how this trick is pulled off.

 

But I do like Zerohedge, and, because you pissed off some good people here, I decided it was time to let the cat out of the bag.

Mon, 11/23/2015 - 07:56 | 6826811 Anopheles
Anopheles's picture

Wow, your hindsight is 20/20 telling everyone how to short gold now that it's ALREADY gone down.  

How about gold next month?  Next year?  What's it GOING to do? 

Mon, 11/23/2015 - 06:28 | 6826746 TradingTroll
TradingTroll's picture

No. Good delivery bars can be used to short  PMs. Idiot.

 

 

 

 

Sun, 11/22/2015 - 22:12 | 6826172 Wow72
Wow72's picture

We arent there yet DICKHEAD.

Mon, 11/23/2015 - 02:23 | 6826579 Dame Ednas Possum
Dame Ednas Possum's picture

'He's still a looser...'

So says the imbecile who can't even correctly spell the insult.

Many people choose to be ignorant. I expect however that your ignorance is beyond your control.

Sun, 11/22/2015 - 21:27 | 6826022 DontWorry
DontWorry's picture

The consumer economy is tanking - but the financial economy has never been better.  If you work for a living, have a mortgage and a car payment, student loans, etc then you're screwed.  If you have wealth, don't have to go to work, and can afford to spend tens of thousands of dollars on campaign contributions you're golden.

 

If you have a job they'll off shore it or automate it.  If you have a pension or an IRA, or bars of gold they'll take it.  If you stuff your mattress with dollars they'll make them worthless.  They'll make your children into debt slaves or draft them into the military where they'll be blown up in the sandbox.  There is nothing you can do now - the time to fight was 10 or 20 years go.  They won, and you lost.  Game over.

Sun, 11/22/2015 - 21:48 | 6826105 NoPension
NoPension's picture

I didn't lose my job to a Mexican or a Guatamalen. Haha! There is not a Mexican here that could shine my shoes.
By they have certainly fucked up the cost curve in my field of construction.
Not long ago, an American could earn a living ( not get rich) as a painter, roofer, drywaller or mason. Now, all the labor intensive, moderately skilled trades are dominated by Hispanics. They work hard. They have to. They are fucking stupid, as a whole. One trick pony's. But they get to work tax free and off the books. Don't argue with me on this. I know it for a FACT! I live this shit. How is a native supposed to complete? We are expected to pay taxes, insurance and licencse fees.
And the illegals do this, not with government's blessing, but with the government's looking the other way. They just choose not to enforce the rules.

So, somethings gotta give, for the Native that has to eat and live.

The "something", is taxes. And fees. And licencses. To compete, we are forced to be criminals or go broke trying to pay Uncle Sugar.

Government, and politicians, fuck you. You created this environment, where a man can't do an honest day's work, render unto Caesar, and still eat and have a roof over his head. Your fault, not mine. Man's gotta do what a man's gotta do.
Fuck Caesar.

Sun, 11/22/2015 - 21:56 | 6826137 ItsDanger
ItsDanger's picture

People ask Trump how will he get so many illegals to leave.  Easy answer is that the IRS could get many of them to leave voluntarily.  There is a claim that the illegals pay taxes (income, payroll?) but how can they without a SSN?  Interesting to see how the employers are remitting taxes for them as well as employer portions.  Could get messy in 2017.

Mon, 11/23/2015 - 09:02 | 6826918 StychoKiller
StychoKiller's picture

There's this other unit called a "Taxpayer Identification Number" (TIN) that can be used in place of a SSN.

Sun, 11/22/2015 - 21:59 | 6826141 Philo Beddoe
Philo Beddoe's picture

That is exactly what is happening.  People that would usually go out of their way to abide by the rules are slowly starting to say fuck it and look out for number 1.  

Sun, 11/22/2015 - 23:37 | 6826349 Fukushima Fricassee
Fukushima Fricassee's picture

Oro mexicana es muy bein.

Mon, 11/23/2015 - 04:18 | 6826675 Tall Tom
Tall Tom's picture

Si. Gusto mucho oro del Governmente de Mexico.

 

Esta muy bien.

 

Quiero mucho oro y plata del Governmente de Mexico.

 

Dinero esta la problema. El peso esta basura.

Sun, 11/22/2015 - 23:54 | 6826385 MASTER OF UNIVERSE
MASTER OF UNIVERSE's picture

It's fuck Caesar, and his family, plus the bus they rolled in on. And fuck the country he came from too.

Mon, 11/23/2015 - 01:27 | 6826503 sonoftx
sonoftx's picture

Great comment Nopension. My uncle owns a roofing company. The crew he uses are all from South America. He pays the head honcho and he pays all of his workers in cash. Most do not speak English. But they are clean, well mannered, and do not scare the customer. He has a hard time finding a white person who will work in roofing, construction, or fire and water damage repair who is not a felon or who does not show up to work and calls asking him to bail them out of jail.

Mon, 11/23/2015 - 04:00 | 6826662 bunnyswanson
bunnyswanson's picture

Nonsense.  But underbidding the lowest bidder is impossible if unless one wants to work for free.  You uncle should be turned into the Worker's Compensation Insurance Fraud division, where he can be fined up to 7 million dollars, forced to do community service for a year as well as wear an ankle bracelet.  They your uncle will be the felon, unable to own a firearm or vote.  Because he is a felon. 

Sun, 11/22/2015 - 21:24 | 6826035 Spungo
Spungo's picture

Why would I want metal when I can use paper? Makin it rain doesn't really work when you have a fist full of silver coins.

Sun, 11/22/2015 - 21:27 | 6826045 Soul Glow
Soul Glow's picture

Right, strippers are the authority as to what should be a sound store of wealth.

Sun, 11/22/2015 - 22:15 | 6826177 CrimsonAvenger
CrimsonAvenger's picture

A whole economy run on breast implants.

Sun, 11/22/2015 - 22:57 | 6826267 Demdere
Demdere's picture

I think, sir, that you do not understand conservative human values, the deep basics from our caveman past, of sex, drugs and rock'n'roll.  We all assume food and conversation, of course, life could not continue without it.  No after the necessities of life, the pleasures, sex, drugs and rock'n'roll.

Strippers have their place in that ecosystem, as I have discussed.

https://thinkpatriot.wordpress.com/2015/06/03/bonobo-nation/

https://thinkpatriot.wordpress.com/2015/10/19/conservative-values/

 

Sun, 11/22/2015 - 23:44 | 6826360 Fukushima Fricassee
Fukushima Fricassee's picture

That paper dollar might make it rain but that silver dollar will probably get the stupid silly bitch you so wish to impress to suck my dick.

Sun, 11/22/2015 - 21:25 | 6826038 Bill of Rights
Bill of Rights's picture

The only thing steaming is the Federal Reserve bathroom, as its full of shit.

Sun, 11/22/2015 - 21:29 | 6826047 Francis Marx
Francis Marx's picture

Cant believe he finally just came to this conclusion.. Come on....who you trying to fool?  All markets are rigged.

Sun, 11/22/2015 - 21:34 | 6826068 spanish inquisition
spanish inquisition's picture

If there was any problems in this planned economy, they would fix it at a secret Fed meeting. And last I heard there aren't any of those that I know of..

Sun, 11/22/2015 - 21:36 | 6826072 nmewn
nmewn's picture

Nordstrums, JC Penny, Aeropostle...all's well!

FRIENDS...DO-NOT-PANIC!!!

Maybe an EBT card for just random shit would help ;-)

Sun, 11/22/2015 - 21:53 | 6826125 Dr. Spin
Dr. Spin's picture

Right on nmewn,

Like I said in one of the other threads:  Let's all stop working and sign up for every bene that Uncle Sugar offers.  Watch the bastards squirm then...

Spoctor Din

Sun, 11/22/2015 - 21:36 | 6826075 RMolineaux
RMolineaux's picture

The authors are correct in pointing out that the claims on gold are many times over the amount of actual physical gold in existence.  The scenario they predict - of the CFTC being unable to deliver physical gold when demanded by contract holders is predictable.  What is more, some holders of ETF gold funds have already been told that they will not receive physical gold on settlement, but rather dollar cash at the current quoted price for gold.  Only the practice of rollover before settlement has hidden the non-existence of the physical commodity.  It will take only a few demands for settlement in physical to expose the entire scam. 

Sun, 11/22/2015 - 21:42 | 6826087 TradingTroll
TradingTroll's picture

But let's just assume no theories of manipulation.  After a massive run to $1900 and then amid a 16yr low in the CRB  index and stronger markets like the Dow and US dollar  why would gold rise anyway?  Like oil and copper the money to be made us on the downside. Sprott made his money just like Bill Gross and Warren  Buffet in a leveraged based debt growth supercycle that has ended.Sprott hired gun Rick Rule who said buy with both fists a few years back can't stem the redemption from Sprott fund now in the several hundred million.So go ahead and imagine the entire commodity market is manipulated  to the downside  while the Dow, US dollar,  bonds are manipulated  up.There's no point to all that and it's extremely  expensive  if you want to cover all markets.  There's a  leaked internal communication  between  the Germans  and the US from a few decades back when Germany  agreed not to pay over $42/oz gold.If manipulation  truly works then why isn't  gold $42?

 

 

 

 

 

 

 

 

 

 

 

 

 

Sun, 11/22/2015 - 21:55 | 6826133 Dr. Spin
Dr. Spin's picture

Easy on the enter key repeat function there Pardner,,,

Spoctor Din

Sun, 11/22/2015 - 22:19 | 6826194 TradingTroll
TradingTroll's picture

Yeah. Email Tyler about it. That's what comes out using latest Firefox  mobile on a Galaxy S5. No additional  enter key pressing required! !

Mon, 11/23/2015 - 03:41 | 6826643 Tall Tom
Tall Tom's picture

Downarrowed you so that you use another $1000 to short Gold.

 

Please. You will keep your word, right?

 

I want some more Free Gold...as I exposed the strategy above.

 

The funny thing about this is that it can be done in any declining commodities or currency market, especially when there is a downside manipulation.

Tue, 11/24/2015 - 14:53 | 6829833 messymerry
messymerry's picture

Redacted...unprintable...

;-D    

Sun, 11/22/2015 - 22:05 | 6826159 PeeramidIdeologies
PeeramidIdeologies's picture

Perception, perception, perception old boy. Plus they had to provide you allocators with a purpose of some kind...

Now let's consider the benefits of inflated value in the Dollar, Bonds, DOW, and real estate, WHILE creating downward pressure in commodity markets. Can you make any clear deductions from this scenario? What ends could this serve?

And just for the fun of it, what is the purpose of a central bank again?

Sun, 11/22/2015 - 22:18 | 6826185 TradingTroll
TradingTroll's picture

You missed the real point. ZHERS always harp on about PM manipulation.  You agreed  nothing occurs in a vacuum.  So Noone complains here about those other manipulated  markets?Again, my point us that there are too many gold longs here that are shitty traders. There are some great paired trades. Many traders have made a bundle shorting gold. But that shouldn't  even be possible  if markets are manipulated.  There would be lots of money in running those shorts back up to $1900. Didn't happen and Noone here has an answer.I am quite profitaby short gold and the trades were entered based on technical  analysis  which according  to you doesn't  work.This manipulation  thesis doesn't  hold water.  It's just anexcuse and a distraction  for shitty traders who can't  help themselves.

 

 

 

 

 

 

 

 

Mon, 11/23/2015 - 00:38 | 6826453 PeeramidIdeologies
PeeramidIdeologies's picture

Do you think before you speak?

Mon, 11/23/2015 - 06:21 | 6826741 TradingTroll
TradingTroll's picture

Are you a BOT?  You behave  like  one.

Sun, 11/22/2015 - 22:02 | 6826149 zeroaccountability
zeroaccountability's picture

I also put my money where my mouth is, I bought a monster box of silver right around October 27th.  It's been straight downhill since.

Sorry guys, it's all my fault.

(Payday will come. Patience, my pretty, patience.)

Mon, 11/23/2015 - 03:45 | 6826648 Tall Tom
Tall Tom's picture

THERE HAS NEVER BEEN A BETTER OPPORTUNITY TO GET FREE SILVER.

 

Use my strategy above written about Gold, shorting the paper markets, and garnering free silver with the profits from the shorts.

 

I have kept you in the dark for far too long and now is the time to expose the strategy.

Mon, 11/23/2015 - 06:00 | 6826736 DIGrif
DIGrif's picture

Some day the trap is going to spring and you are going to get your azz handed to you....very dangerous game you are playing there.

Mon, 11/23/2015 - 10:35 | 6827181 Buster Cherry
Buster Cherry's picture

Hey c'mon man.....

You can't feel bad. Its not October 27, 2010, so you're way ok.

I think my next.buy will be maples because of the 5$ face value.

Sun, 11/22/2015 - 22:05 | 6826160 zeroaccountability
zeroaccountability's picture

One maxim of investing: buy when there's blood in the streets.

Man, if now isn't that time, when is?

10 years from now I'll look and feel like a genius.

Sun, 11/22/2015 - 22:07 | 6826163 zeroaccountability
zeroaccountability's picture

(To the Crybullies:  Sorry, I used the term 'man'.  Please forgive me.)

Mon, 11/23/2015 - 03:47 | 6826652 Tall Tom
Tall Tom's picture

ZH is a Safe Zone and that post offends me. Pleeeeeeze refrain from your microaggressions.

Sun, 11/22/2015 - 22:12 | 6826173 Seasmoke
Seasmoke's picture

USD. USD. USD. USD. USD. $100 !!!!!!!!

Sun, 11/22/2015 - 22:18 | 6826184 spencer
spencer's picture

I am not patient. I own mining shares that fell 50% last month.

Those miners keep digging their own grave. WHY are they selling the gold? Underwater?

Are they fuccking nuts? Very few miners make profit at those prices - yet NONE go on strike.

Workers in Africa have more balls to strike - than gold minng CEOs.

These people aren't smart. It's the opposite.

They should form a group and limit the sales to those banks.

It's the banks that are buying. So it's the banks that are knocking the price down.

And those stupid CEOs can't even acknowledge that simple fact.

GO ON STRIKE stupid CEOs. Stop selling the metal.

Few years down the road gold may be 10x more expensive.

 

 

 

Sun, 11/22/2015 - 22:54 | 6826259 Francis Marx
Francis Marx's picture

Spence, you have to hedge at times to make up for your losses.  If you have options with your broker, wait till oil goes up to 45-46 this week and short it. You'll then sell at 37 handle and make at least 1.5 x your money you bought PUTs with. (USO)

Sun, 11/22/2015 - 23:10 | 6826291 spencer
spencer's picture

I don't trade options - I own shares outright. One of these miners published horrible results and fell.

I watch gold - and despite logic - I don't believe these guys anymore.

They keep talking about gold like something is due to happen.

But they are wrong almost all the time.

How can you be wrong almost all the time is beyond me.

I would be glad to hear WHEN Sprott is short

 

Mon, 11/23/2015 - 07:37 | 6826787 Fed-up with bei...
Fed-up with being Sick and Tired's picture

Hey, Man, take it from someone who ALSO never traded options, when I helpd a strong and VERY UP position, heavy on Dot COM:  I ate it.  In the meantime, once I sold all of my businesses, and ALL RE IS GONE NOW, including my Apartment buildings, I am ALL about options.  I ONLY trade options and futures.   The 'smart money' uses options (selling puts on dips and short calls on rips) on any position, and quite often I am in with 40 to 100 contracts, out a week, low delta's, and making a living doing it.   THE ONLY WAY to be IN this market is with options.  It also helps that I am an expert at Measured Moves.    I learned it from Halsey and use my own setups.    My trades last year were up big  (not a single loss, even with VXX, I was able to go break-even with suckie entries when I was on vacation), and I sold DITM Calls, went break-even plus $20K.   So, believe the old man here and learn how to use options....you will NOT regret it one moment.   No brag here, just fact.  I know of what I speak, and if you are younger than me, then get on the stick and learn how to use options to make money or to HEDGE open positions.  There is an old saying:   "would you own a house without insurance?"   BUYING puts on a positon, when you entered wisely on a dip (using Measured Moves -- again, this is a TA setup and works well)....then you BUY PUTS deep when fear is low.

Mon, 11/23/2015 - 07:40 | 6826795 Fed-up with bei...
Fed-up with being Sick and Tired's picture

If anyone is interested, I run a free room at GOOGLE:

 

https://groups.google.com/forum/#!forum/rangeplays

 

Yes, free.  I consult with Oil people for fees, but I post setups from time to time to bone up those who learn the system.  IT IS THE ONLY ONE THAT WORKS.    I have trded the markets since I was 38 and I am OLD!

Sun, 11/22/2015 - 22:21 | 6826200 DirkDiggler11
DirkDiggler11's picture

Eric's information is correct, but he sucks ass at timing. I looked at investing in two of his hedge funds back in 2010. If I had, I would have lost over 75% of my money by now. You can be correct, but early and broke on a trade too.

Screw all the fancy maneuvers, just stack every month and don't even tell your mother where you keep your phyz.

Sun, 11/22/2015 - 22:30 | 6826209 Albertarocks
Albertarocks's picture

This is a great video.  These two guys are no joke.  Sprott is as honest as the day is long... offering a full audit of his $billion worth of silver at all times.  And Neumeyer has built more than one billion dollar company.  He currently has 19 mining companies on his list of companies to develop.  He doesn't own them, but he values them all as potential blockbuster miners.  And he has the capacity to make that happen.  Obviously these two Canadians are losing patience with the system... but if there's one thing they have, it's conviction and lots of ammunition to wait the banking whores out.  Patience.

Sun, 11/22/2015 - 22:33 | 6826224 zerotohero
zerotohero's picture

It is one crazy ass world indeed. - who knows where this is going - I have about 5% in phys but for asshat to write that he's going "all in" is both ridiculous and BS - nobody sane goes ALL IN on anything

Sun, 11/22/2015 - 23:04 | 6826281 Demdere
Demdere's picture

I very much agree.  Anyone who has a single cent in any piece of paper is 'all in' in a system that is hopelessly corrupt and failing, a kleptocracy of shysters and front-runners and crony capitalists every layer of which, every regulation of which needs to be adhered to and increases everyone's overhead, and thus the justified increment for their services, all of these things inexorably reduce ROI.

Any country that is the least bit more honest will eat our lunch in short order.  Thus capital controls at the same time hyperinflation starts, they have to keep the money inside to keep the system working as long as possible. every last skimmable cycle through the Wall Street system

Mon, 11/23/2015 - 07:28 | 6826776 Fed-up with bei...
Fed-up with being Sick and Tired's picture

This was the smartest comment here.  I agree:   "All-in" stinks as I am likely older than most ZH-er's here, and when I have EVER done that, even with "half-in" I got fucked out of my money (2000 dot com bubble killed my balances)...I was an idiot.

Sun, 11/22/2015 - 22:49 | 6826253 loveyajimbo
loveyajimbo's picture

Be nice if Sprott put some of his $Billion to work crushing the Comex.  Why doesn't he get a few of his rich pals like Neumeyer and close it down?  THAT is what is a little smelly here...  BTW:  Another big raid tomorrow morning, might be in the end-game here, with the Fed and a few major banks in real trouble...  Europe and Japan crumbling... I'll keep my gold, and am in no hurry. IF the Bill to audit the Fed overcomes the shitroid Reid's stall and the mulatto Queen's veto, the shit WILL hit the fan.

Sun, 11/22/2015 - 23:16 | 6826298 wisebastard
wisebastard's picture

i think germany asked for their gold back and they US did not have it so they have to crash the metals so they can buy it back at a cheap price

Mon, 11/23/2015 - 05:55 | 6826735 DIGrif
DIGrif's picture

That's possible...or the rich are manipulating the price while loading up. All I know is that the governments of the world are busy buy the hell out of it........

Sun, 11/22/2015 - 23:19 | 6826307 HoserF16
HoserF16's picture

Those who listened to Sprott probably bought Silver at $35 and Gold at $1900. Like I did. How's that worked out for us so far... Face it Eric, you're not in charge. Banksters are and they own the government. Should have stayed in the S&P the last 6 years... Fuck Me...

 

Mon, 11/23/2015 - 10:25 | 6827163 Buster Cherry
Buster Cherry's picture

Yer not alone.

Porter Stansberry convinced me the world would end tomorrow...you and I were probably clicking the APMEX "buy" button at the same time back in 2010.

Sun, 11/22/2015 - 23:55 | 6826387 suzannacuahjsouiqxxg
suzannacuahjsouiqxxg's picture

Sprott has been wrong on just about everything concerning gold. He's one of the regular conspiracy clowns that appear on King World News where everybody is a "legend" - albeit mostly in their own minds. Is it any wonder that gold bugs are the subject of so much ridicule with clowns like Sprott spewing out their dumb theories day in and day out.

Mon, 11/23/2015 - 00:06 | 6826403 razorthin
razorthin's picture

Who gives a fuck. Trade DUST and NUGT and buy physical with the profits.

Mon, 11/23/2015 - 00:26 | 6826435 Insurrexion
Insurrexion's picture

 

This is a fucking gold commercial you stupid cunts.

Mon, 11/23/2015 - 00:26 | 6826436 DOGGONE
DOGGONE's picture

MANIPULATION in your face, take a look.
http://showrealhist.com

Mon, 11/23/2015 - 01:02 | 6826476 jomama
jomama's picture

Sprott sucks.

Mon, 11/23/2015 - 02:26 | 6826583 Rubbish
Rubbish's picture

This is a lot like buying a house. You go through valleys that suck but you got the home. I'm going to keep stacking, I'm down so what? I can afford it, I didn't go overboard, I buy what I can afford. I'm paying some guy to work a week to dig up an ounce of Gold when I make over 3 times what he makes. Someday I will cash that in sitting on my arse !!!!

 

Gold Bitchez......I pick up pennies

Mon, 11/23/2015 - 09:05 | 6826926 Spiritof42
Spiritof42's picture

If PMs are being manipulated, then so is every other commodity. Pretty soon, they'll be blaming Martin Armstrong.

I reached my quota years ago. But if I was in the market, I'd wait for maybe a couple of years for this deflationary debt collapse to run its course before buying again.

 

Mon, 11/23/2015 - 11:59 | 6827445 Kirk Lazarus
Kirk Lazarus's picture

Serious question- when your business model is based on the upside in a binary asset trade (gold, oil, natural resources) and all that asset does for 5 yrs is crater how do you manage to a) stay a billionaire b) get people to give you any money to manage at all?

How is this joker not bankrupt?

Mon, 11/23/2015 - 13:58 | 6827849 moneybots
moneybots's picture

The truth is that commodities are in a bear market.

 

It doesn't matter whether gold & silver prices are being manipulated, they are in a bear market, regardless.  The flailing of arms does not change that.

Do NOT follow this link or you will be banned from the site!